Artemis Investment Limited – Stock market live updates: Stocks rise to recover from bear market

U.S. stocks rose Monday, with equities coming off a seven-week losing streak on more solid footing as investors shook off some recent volatility and digested fresh trade-related remarks from the Biden administration.
 
HONG KONG - May 24, 2022 - PRLog -- The S&P 500 rose by nearly 1.9% by the end of the trading day, recovering after dipping into bear market territory during Friday's session. The index closed Monday's session at 3,973.75, and was still down more than 17% from its recent record high from Jan. 3. The Dow gained more than 600 points, or nearly 2%, to settle at 31,880.24. The Nasdaq increased 1.6% to end at 11,535.27.

The moves to the upside came after President Joe Biden said he was considering easing tariffs on Chinese goods that had been imposed during the prior administration. Biden's remarks, made during a news conference with Japanese Prime Minister Fumio Kishida, came in turn after Treasury Secretary Janet Yellen said last week that she was encouraging the Biden administration to remove the tariffs she said imposed "more harm on consumers and business" in the U.S.

The possibility of some easing of tariffs while the U.S. economy grapples with decades-high rates of inflation helped at least temporarily boost risk assets that had been battered in recent weeks by jitters over rising prices, more aggressive Federal Reserve monetary policies and international concerns in Ukraine and China. As of Friday, the S&P 500 had also posted a seventh consecutive weekly loss last week in its longest losing streak since 2001. And at its worst point on Friday, the index sank as much as 20.6% from its January record high to trade in bear market territory.

About Artemis Investment Limited:

Originally established to assist expatriates access financial services in SE Asia, Artemis Investment Limited is a leading independent, boutique financial advisory firm which now caters to a global client base.

Based in Hong Kong for the last 60 years, we have adapted our services to account for the financial world in the 21st Century. We are a borderless company whose staff come from a variety of backgrounds but are united by one attribute, customer focus and objectives above all else.

We understand that many clients know where they want to be, but may not have the knowledge on how to get there. This is where our specialist expertise within the financial services sector is essential in providing the correct timing, opportunity and ultimately, the correct result to establish a lengthy and equitable relationship. This is something that our 20,000 + clients have learnt first-hand.

To find out more, or to sign up to the Artemis newsletter, visit https://www.artemis-hk.com

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Cherry Hwuang
Marketing Director
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